| 摘要 |
Pursuant to some embodiments, a computer system for pricing a paycheck term policy is provided which includes a processor, a communication device in communication with the processor and receiving an input data set, the input data set including at least an issue age of an insured associated with the policy, a desired death benefit payment amount, an underwriting class associated with the insured, and an interest rate factor. A memory is in communication with the processor and storing program instructions, the processor operative with the program instructions to store a first equation, the first equation defining a present value of cost of death benefit in terms of a plurality of independent variables including the desired death benefit payment amount, a fixed annuity factor, an account value, a present value factor, a probability of survival, and a probability of death, a second equation, the second equation defining a present value of a premium in terms of a plurality of independent variables including the present value factor, the probability of survival factor, the desired death benefit payment amount, the fixed annuity factor, the account value, and the probability of death. The memory stores a third equation, the third equation defining a present value of a cost of return of premium benefit in terms of a plurality of independent variables including a probability of life factor, and a total of premiums paid at a benefit year. The first and second equations are applied to the input data set to generate a pricing dataset for the paycheck term policy, the pricing dataset including at least a present value of a premium and a present value of cost of death benefit. The third equation is applied to the output of said the equation to generate a present value of a cost of return of premium benefit, and the pricing dataset is output.
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